In a crowded conference room at the Menlo Park Hotel last Friday, Spencer auctioneers held its May land auction with seven lots of land in the Oughterard area coming under the hammer.
The first six parcels were lands sold under the direction of Patrick Horkan, receiver, KPMG, and were the finest grazing lands to come to the market in that area in the past 20 years. Many of these lands are zoned residential but were now being sold at their agricultural values.
The first lot, 13 acres of rough bog lands with access to Pier Road, sold for €2,540 per acre, or €33,000 in all.
Four lots of lovely gardens of grazing land ranging in size from 2.26 acres to 4.83 acres sold for prices ranging from €8,704 to €15,044 per acre. The sixth and final lot of 7.6 acres of fine grazing land, with good frontage to the N59 Oughterard to Galway road, realised €148,000 or €19,474 per acre.
Immediately afterwards a further parcel of 12.87 acres of grazing lands with 45.74 acres of commonage was bid from its disclosed reserve of €35,000 in strong bidding to a final price of €66,000.
Rod and Luke Spencer of Spencer auctioneers were pleased with the day’s sales, which yielded some €410,000, and look forward to their next auction at the Menlo Park Hotel on Friday June 28 when a further 159 acres of land will be auctioned, including a dwelling house and 46 acres of land on the outskirts of Clifden (disclosed reserve of €87,500 ); 42.66 acres of grazing lands with buildings, stables, and arena at Oughterard; and 70 acres of commonage at Oughterard. Further entries are being sought for this auction.
For more information contact Spencer auctioneers at 087 2347797 or visit www.spencerauctioneers.com
